CIIG Advanced Diploma Practice Questions - CIIG Advanced Diploma in Insurance Associateship Exam - CIIG Advanced Diploma Practice Questions - CIIG Advanced Diploma in Insurance Associateship Exam

Question 1

Under the Ghana Insurance Act 2021 (Act 1061), what is the statutory Minimum Capital Requirement (MCR) for a locally incorporated direct life insurance company?

GHS 10 million GHS 50 million GHS 80 million GHS 100 million

Correct Answer:

GHS 50 million

Question 2

What is the primary function of the Complaints Bureau established by the National Insurance Commission (NIC) of Ghana?

To prosecute insurance directors for financial fraud in state courts To mediate and resolve disputes between policyholders and insurance companies regarding claims settlement To issue new underwriting licenses to insurance brokers and agents To audit the financial statements of reinsurance companies operating in the country

Correct Answer:

To mediate and resolve disputes between policyholders and insurance companies regarding claims settlement

Question 3

Under the 'No Premium, No Cover' provision of the Insurance Act 2021 (Act 1061) in Ghana, what is the statutory status of an insurance policy if the premium has not been paid?

The policy remains valid, and the insurer must pay any claims and recover the premium later The cover is legally active for a 30-day grace period from the inception date The cover is not legally in force, and the insurer is not liable for any claim arising during the unpaid period The policy is automatically transferred to the National Insurance Commission's guarantee fund

Correct Answer:

The cover is not legally in force, and the insurer is not liable for any claim arising during the unpaid period

Question 4

Which professional body in Ghana is responsible for registering student members, conducting examinations, and maintaining professional standards for individual insurers?

Ghana Insurance College (GIC) Chartered Insurance Institute of Ghana (CIIG) National Insurance Commission (NIC) Ghana Insurance Association (GIA)

Correct Answer:

Chartered Insurance Institute of Ghana (CIIG)

Question 5

Under the Ghana Insurance Act 2021, which of the following properties is subject to compulsory insurance against fire and third-party liabilities?

All owner-occupied private residential bungalows All commercial buildings and commercial buildings under construction Only government-owned administrative structures Agricultural crop fields and poultry farms

Correct Answer:

All commercial buildings and commercial buildings under construction

Question 1

Exam overview

About this Exam

Prepare with the CIIG Advanced Diploma Practice Questions - CIIG Advanced Diploma in Insurance Associateship Exam practice quiz. This question bank includes 100 questions covering insurance, claims, policy, insurer, and commercial. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

More details

Additional Information

CIIG Advanced Diploma Practice Questions - CIIG Advanced Diploma in Insurance Associateship Exam

This practice set contains 100 questions from the matching question bank and focuses on insurance, claims, policy, insurer, and commercial. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

Quiz information

Frequently Asked Questions

The complete question count is available after full access is unlocked.

No fixed duration is currently configured for this quiz.

Question explanations are included where they are available in the quiz content, helping you review the reasoning after answering.

Yes. You can retake the practice test again as you continue studying during your available access period.

After your access is confirmed, you can continue into the complete practice exam from this quiz flow.

Unless explicitly stated otherwise, this page provides independent practice material for study and exam preparation and is not the official examination itself.

Keep studying

Correct Answer:

Correct Answer:

Correct Answer:

Correct Answer:

Correct Answer:

About this Exam

Additional Information

CIIG Advanced Diploma Practice Questions - CIIG Advanced Diploma in Insurance Associateship Exam

Frequently Asked Questions

Related Questions

307 Advanced Damage Control Practice Exam

3CX Academy Advanced Certification Practice Exam

Arizona Health Insurance Practice Exam

Arizona Insurance Laws and Rules Practice Exam

ABO Advanced Practice Exam

Ultimate Guide to the Illinois Property Insurance Practice Exam